NASDAQ OMX Europe today announced its revised pricing structure ahead of its launch as a new Multilateral Trading Facility (MTF) on the 26th of September.
NASDAQ OMX Europe's pricing will consist of two pricing models -- one for routing orders and one for matching orders. The routing technology will allow participants to send orders to NASDAQ OMX Europe's order book, which if unmatched, will route out to other MTFs and exchanges for execution.
This will make it less expensive for most professional firms, as well as those firms who do not already have access to the European primary markets and MTFs, to trade through NASDAQ OMX Europe. The revised routing pricing will include an all inclusive fee of 0.65 basis points(bps) to trade on the London Stock Exchange.
Charlotte Crosswell, President of NASDAQ OMX Europe commented, "We are excited to launch an aggressive pricing strategy that will, in most cases, make it less expensive to route an order through our market than to trade directly on the primary markets. By routing through NASDAQ OMX Europe, we will offer the opportunity to access liquidity on our own order book as well as a greater likelihood of gaining best execution and price improvement at a lower cost."
The pricing for matching orders will follow a "maker/taker" model which will see it provide a rebate of 0.2 bps of the order value for participants who add liquidity on the market by posting sale or purchase orders on the book, and charge 0.3 bps for participants who remove liquidity from the market, or match orders on the book.
Full details of the NASDAQ OMX Europe pricing structure can be seen on the website at: www.nasdaqomxeurope.com/participation/fee_schedules.
